Our Expertise > Dispute Resolution > Professional Liability
Professional Liability
Campbells has one of the most established professional liability practices in the Cayman Islands and the BVI. Our specialist team has acted in a large number of complex claims involving a wide range of professionals, including directors, fiduciaries, auditors, attorneys, fund administrators and custodians, insolvency practitioners and medical practitioners. This depth of experience means we understand the dynamics of professional negligence actions from every angle.
We work closely with insurers and reinsurers when defending claims, and our position at the forefront of changes in the Cayman and BVI business and regulatory environment gives us a clear understanding of the evolving risk landscape for professionals. When issues escalate, we provide decisive representation, drawing on deep courtroom experience and familiarity with the leading reported decisions on professional liability in both jurisdictions.
We provide clear, commercially focused advice and effective representation, working closely with clients and their stakeholders to achieve strategic objectives. We have particular expertise in arbitration, mediation and other forms of alternative dispute resolution, and prioritise resolving disputes as efficiently and cost-effectively as possible.
Members of the team regularly appear before first instance and appellate courts and have been involved in many of the leading reported decisions on professional liability in both jurisdictions.
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Representative matters
- Defending HSBC entities acting as administrator and custodian in a US$2 billion claim against them in the Cayman Islands by the liquidators of a Madoff feeder fund. HSBC was successful before the Grand Court (Primeo Fund v Bank of Bermuda (Cayman) Limited & Anor [2017 (2) CILR 334]) and Court of Appeal; the matter is currently on appeal to the Judicial Committee of the Privy Council.
- Representing a major international accounting firm in defence of professional liability claims in excess of US$270 million, including obtaining an anti-suit injunction in the Cayman Islands to restrain liquidators of the fund from continuing proceedings in New York.
- Acting for a major audit firm in parallel litigation and Cayman-seated arbitration proceedings in defence of claims for in excess of US$150 million concerning allegations of professional liability following the collapse of an investment fund.
- Representing directors in the leading Cayman Islands’ cases involving directors’ liability, including successfully defending directors to the Court of Appeal in Weavering Macro Fixed Income Fund Ltd v Peterson and Ekstrom [2015 CILR 45] and Goodman v Cummings [2018 CILR 234].
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Regulatory Disputes
Our Regulatory team sits within Campbells’ litigation department and has dealt with some of the largest and most important cases in the jurisdiction. We have a longstanding reputation as the ‘go to’ team in judicial review matters as we are unafraid to take on powerful governmental bodies, having won high profile cases against the Cayman, British and US governments and acted successfully for numerous clients including a former Commissioner of Police and a Grand Court Judge.
Being one of the only firms in the jurisdiction with a wide-ranging regulatory practice, our attorneys have genuine, established regulatory litigation experience and have built a strong reputation in this specialist area.
Our team has extensive expertise in financial services regulation and is engaged in cases with various divisions of the Cayman Islands Monetary Authority, the Financial Reporting Authority, the Department for International Tax Cooperation and the Registrar of Companies.
We have particular expertise in advising with respect to, and successfully challenging, all manner of administrative fines including those issued by the Cayman Islands Monetary Authority (AMLR breaches), the Registrar of Companies (Beneficial Ownership breaches), and the Department for International Tax Cooperation (CRS/FATCA breaches). In addition, we regularly advise clients in relation to Cayman Islands regulatory issues with cross-jurisdictional elements (MLATs, inter-regulator treaty requests, and documentary/evidential production notices).
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